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Rufi Real Estate to invest in Dubai: Pakistani developer, Rufi Real Estate is investing more than Dh3 billion in five real estate projects in Dubai, a top official said.
The company, which has delivered more than 65,000 housing units in Pakistan over 35 years, entered Dubai's market with a strong commitment. "We have several projects in Dubai Sports City and Jumeirah Village South Circle as well as other developments in Dubai, with a combined value exceeding Dh5 billion," said Manzoor Ahmad Rufi, president of Rufi Real Estate.
"These include the Dh250 million Park View, Rufi Gardens at International City and Rufi Twin Towers at Dubai Sports City. In total, we currently have about 2,500 units under construction in Dubai alone with many more to come. "We find the UAE a very good market for real estate and will continue to develop properties in the coming years," he added. He said two of the projects' construction works are going as per schedule.
It has recently entered a partnership with Egyptian developers Sharm Land to roll out the Dh1 billion Quattro Hotel and Business Park, under a 50:50 joint venture that is expected to develop more projects in the UAE, Pakistan and Egypt.
The Quattro Hotel and Business Park is one of the first projects to be established in Jumeirah Village South Circle, which is situated on the junctions of Emirates Road, Barsha Road and Al Khail Road. The 100,000 square feet plot will house a commercial complex with a podium that expands through the full plot and holds four towers.
Quattro is an integrated business and retail development that will be set amidst luscious landscaping, connected parks and boulevards, offering a diverse range of leisure and lifestyle amenities. It will comprise of two business towers and two 143 room hotels. Sharm Land, will invest Dh5 billion in Dubai's property sector in the next few years.
Via Gulf News
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